In January 2017 the quantity of landlords and investors buying properties in cash has grown. During this month 61% of Britain’s buy-to-let purchases were mortgage-free according to Countrywide lettings agents.

The Northern areas had the highest amount of buy-to-let cash buyers which dominated the other regions of England, further reflecting the lower house prices in the North of England.

The index provided by Countrywide recorded the percentage of cash buyers on buy-to-let properties in 11 locations. The results showed a variety of figures, but the average for the UK overall came to 61%.

The North West experienced cash buyers making up 70% of the buy-to-let purchases in January, whilst Yorkshire and the Humber followed with a close second of 68%.

The South West and North East has the same percentage of 67%, which is a big contrast to landlords and investors in the South East who mostly rely on mortgages with only 42% of London sales being independently financed. In general, the South East saw 54% of landlords purchasing without a mortgage.

When the index started in 2007 there was a record of buy-to-let cash buyers making up only 41% of all buy-to-let property purchases. Countrywide research director, Johnny Morris stated, “On average landlords sell a home once every 17 years. Meaning as prices have increased, a significant amount of wealth has built up in the sector. This is now fuelling cash purchases.”

The figures do not mean that landlords and investors are necessarily getting wealthier, but it may have something to do with the decline in mortgage lending for buy-to-let properties over the recent years. Mortgage lenders for buy-to-lets have put a limit on the number of buy-to-let mortgages you can have. The rates are also increasing and most lenders will ask for a 25% deposit and expect your income to be 125% of the mortgage.

There have also been recent changes in tax legislations to do with buy-to-let properties. For example, the 3% Stamp Duty Land Tax increase in April 2016 and the April 2017 tax relief on mortgage interest limitations.

When you’re looking for credit control tips, you may be wondering what you can do to make sure your credit stays in shape. Here you’ll get that information and it can help you quite a bit. Good luck with this and keep reading for more.

When you want to buy something nice for your home, you shouldn’t do so with a loan of any kind. For instance, you may be able to afford a big screen television if you get a payday loan, but think about how much extra that will cost you with interest. Not to mention, if you can’t pay it off on time it will probably damage your credit and make it hard for you to get loans in the future. Be smart about these things so you don’t end up spending your money on something you don’t even need.

Take a moment to look around for the best business to get any kind of a loan from. Your credit score will get damaged if you work with a place that doesn’t have your best interests in mind. A good thing to do would be to call to get a quote on the kind of loan you’re trying to get. Always make sure that you don’t hide from a company when you owe them some money. You’re going to want to work on a payment plan of some kind, and that’s why you need to be able to work with their customer service easily.

Now you’re able to tell what you can do when you want to protect your credit. The tips you were give here are going to assist you quite a bit, you just have to be willing to take the time and effort to put the tips to good use. A good outsourced payroll service in London will help take the strain out of doing payroll.

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How It Works

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